Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Erdogan]

Ahh, Mat, bitcoin doesn't enable money laundering. The ones that profit from money laundering are the ones that enable money laundering.
Some day you will get this. I can feel it.

It isn't the fire that burns, its the heat.

It isn't the gun that kills, it is the person who fired it.

It isn't the knife stuck in your guts that kills you, it is your arteries pissing out blood that finishes you off.

Yeah yeah....but Bitcoin is a pretty good tool in the money launderers arsenal. Especially the small/medium enterprise money launderer that doesn't have access to corporate banking routes of money laundering...or even the large scale money launderer that doesn't want to pay the premiums of going through the conventional routes.

And... bullish or bearish?

[shmadz]

Ahh, Mat, bitcoin doesn't enable money laundering. The ones that profit from money laundering are the ones that enable money laundering.
Some day you will get this. I can feel it.

It isn't the fire that burns, its the heat.

It isn't the gun that kills, it is the person who fired it.

It isn't the knife stuck in your guts that kills you, it is your arteries pissing out blood that finishes you off.

Yeah yeah....but Bitcoin is a pretty good tool in the money launderers arsenal. Especially the small/medium enterprise money launderer that doesn't have access to corporate banking routes of money laundering...or even the large scale money launderer that doesn't want to pay the premiums of going through the conventional routes.

You see! you are getting it!

bitcoin enables the small/medium guys to have a chance in this world that is controlled top-down by a very few, at the very top.

It will be a bumpy ride, so buckle up!

*edit* quick thought, that overstock guy is one of the 'medium' guys... why do you think the price of his company's stock dropped so hard after he came out in favour of bitcoin?

[dgarcia]

Silk Road also went down over night with over 200k Bitcoins on it.

And be settled in Europe may not help BTC-E. If Russia is really pissed off, 'cause cryptocurrencies were involved with the terror attacks (traded on BTC-E), than BTC-E could get the attention of Europe, too.

BTC-E is a Blackbox, and I think with their anonymity they are breaking serveral european laws, too. And until now nothing had happened, 'cause nobody payed attention to BTC-E. So they could be forced to correct themself quickly and fulfil all required obligations or will be shut down soon.

Also it could be that nothing will happen, but I would not say so fast that this is all totally insignificant.

It is like nearly every day in the Bitcoin-World:

Unclear.

[GaliX]

But then BTC-E price would get goxxed!  

Only Russians would have fiat withdrawal issues.. and they are a small minority of BTC-e customers.

They may be a small minority of BTC-e customers but I bet you they represent a rather high volume of Russian wealth leaving the Russian economy, black market wealth or otherwise, all without giving Putin his cut. Putin is furious at Bitcoin and out to nail BTC-E for a good reason (a good reason in his mind).

Lets face it, the #1 use of Bitcoin right now in the world today is shifting money around off the radar of the banking system. Don't say it isn't cos it is. Bitcoin started life as an underground curency and therefore by definition, its initial target users were always going to be black/grey market participants. Honest John Law Abider got in on the action through speculation, speculation which came to dominate Bitcoin transactions, but speculation which is built around a spine of black market transactions.

Which Bank again was laundered Billions and Billions of money for the Mexican cartel and nobody went to Jail? yea, Google it.
That's one of the reasons talking about Bitcoin as just for money laundry is absurd.  

[MatTheCat]

You see! you are getting it!

bitcoin enables the small/medium guys to have a chance in this world that is controlled top-down by a very few, at the very top.

It will be a bumpy ride, so buckle up!

*edit* quick thought, that overstock guy is one of the 'medium' guys... why do you think the price of his company's stock dropped so hard after he came out in favour of bitcoin?

That is why I used to have such a boner for Bitcoin. But from not even small-medium guys, but from absolute non-players, monsters have been made in Bitcoin who have acted to distort and damage the health of the market, through not very sophisticated but time proven effective market cornering techniques. This makes Bitcoin a very dangerous playground for Johnny Come Lately capital at the moment and I am not so sure that a currency market where 50% of the entire quantity of that currency are owned by as many people, is exactly conducive to giving power to the people.

Which Bank again was laundered Billions and Billions of money for the Mexican cartel and nobody went to Jail? yea, Google it.
That's one of the reasons talking about Bitcoin as just for money laundry is absurd.  

Do you have any wealth from ill-gotten gains? Perhaps a few large coke deals. Perhaps undeclared earnings that you don't fancy paying tax on?

If so, should the authorities come a knocking how would you go about justifying it or any asset that you bought with it?

Do you have access to Wells Fargo's 'Money Laundering Department'?

[GaliX]

Silk Road also went down over night with over 200k Bitcoins on it.

And be settled in Europe may not help BTC-E. If Russia is really pissed off, 'cause cryptocurrencies were involved in the terror attacks (traded on BTC-E), than BTC-E could get the attention of Europe, too.

BTC-E is a Blackbox, and I think with their anonymity they are breaking laws here in Europe, too. And until now nothing had happened, 'cause nobody payed attention to BTC-E. So they could be forced to correct themself quickly and fulfil all required obligations or will be shut down soon.

Also it could be that nothing will happen, but I would no say so fast that this is all totally insignificant.

It is like nearly every day in the Bitcoin-World:

Unclear.

On top BTC-e has no "know your customer".
While it never bothered me, I think this should grave any hope for BTC-e if anything "bad" is going to be related to the exchange. It wouldn't even matter if the exchange is in Bulgaria, Russia, cypher or on the Moon! It would be shut down instantly and every funding would be frozen, because every single Bitcoin is going to be "dirty".

That could be potential a big deal for the Bitcoin over all. We should all pay close attention to the BTC-e case now.

[JorgeStolfi]

Daily volumes of BTC trade to/from USD and other national currencies (in kBTC):


               !    Sat !    Sun !    Mon !    Tue !   Wed !   Thu !   Fri !   Sat !   Sun !   Mon !                     
  EXCHANGE     !  01/25 !  01/26 !  01/27 !  01/28 ! 01/29 ! 01/30 ! 01/31 ! 02/01 ! 02/02 ! 02/03 ! Currencies considered

  BTC-e        |   9.34 |  10.38 |  21.02 |  16.82 |  6.53 | 12.54 |  4.65 |  6.30 |  4.74 |  5.75 | USD,EUR,RUR         
  Bitstamp     |   8.70 |   9.70 |  25.19 |  20.04 |  7.04 | 13.13 |  7.73 |  8.30 |  4.07 |  4.93 | USD                 
  BitFinEx     |   4.62 |   7.88 |  15.63 |  13.62 |  3.87 |  8.18 |  3.91 |  4.54 |  3.15 |  3.45 | USD                 
  MtGOX        |   9.52 |  16.11 |  10.02 |  11.82 |  7.21 |  6.60 |  4.45 |  5.13 |  2.28 |  3.37 | USD,EUR,GBP,AUD,JPY 
  Bitcoin.DE   |   0.30 |   0.34 |   0.60 |   0.49 |  0.33 |  0.47 |  0.35 |  0.33 |  0.35 |  0.51 | EUR                 
  Kraken       |   0.19 |   0.24 |   0.63 |   0.54 |  0.24 |  0.37 |  0.20 |  0.23 |  0.15 |  0.21 | EUR                 
  CampBX       |   0.04 |   0.05 |   0.13 |   0.20 |  0.07 |  0.06 |  0.05 |  0.23 |  0.16 |  0.10 | USD                 
  CaVirtEx     |   0.33 |   0.10 |   0.40 |   0.22 |  0.21 |  0.25 |  0.24 |  0.24 |  0.20 |  0.08 | CAD                 
  Crypto-Trade |    .   |    .   |    .   |   0.01 |   .   |  0.01 |   .   |  0.01 |  0.01 |   .   | USD                 

  SUBTOTAL     |  33.04 |  44.80 |  73.62 |  63.76 | 25.50 | 41.61 | 21.58 | 25.31 | 15.11 | 18.40 |                     

  Huobi        |  58.16 |  91.31 |  63.13 |  92.88 | 32.14 | 29.27 | 15.26 | 28.86 | 26.27 | 24.77 | CNY                 
  OKCoin       |  26.33 |  31.40 |  35.41 |  52.37 | 29.11 | 18.56 | 17.11 | 20.38 | 20.00 | 18.09 | CNY                 
  BTC-China    |   3.04 |   5.55 |   4.43 |   6.45 |  1.94 |  1.99 |  1.17 |  2.31 |  2.21 |  1.70 | CNY (NOTE 1)         

  SUBTOTAL     |  87.53 | 128.26 | 102.97 | 151.70 | 63.19 | 49.82 | 33.54 | 51.55 | 48.48 | 44.56 |                     

  TOTAL        | 120.57 | 173.06 | 176.59 | 215.46 | 88.69 | 91.43 | 55.12 | 76.86 | 63.59 | 62.96 |                     



All numbers were collected by hand from the site http://bitcoinwisdom.com. Beware of possible errors.

For each exchange, the numbers include only the trade volume to/from the currencies listed in the rightmost column. Trade between BTC and other cryptocoins, such as LiteCoin, is NOT included.

Coinbase is said to use Bitstamp for currency conversion.

Dates on the header line are UTC. Specifically, "01/15" means "from 01/15 00:00:00 UTC to 01/15 23:59:59 UTC". (Beware that Bitcoinwisdom uses your local time, so the date may appear to be off by 1 day.  For example, if you are 2 hours west of Greenwich, it may show "01/14 22:00" when the UTC time is "01/15 00:00".)

(NOTE 1) On 2014-01-30, BTC-China had a burst of extremely fast, regular and atypical transactions, all with similar amounts (a few tens of BTC) and prices (~4836 CNY), adding up to about 41,050 BTC.  The burst started suddenly around 17:00 UTC and and stopped suddenly around 19:30 UTC. Presumably those transactions were made by a faulty robot trading against itself or some other robot, and did not represent actual exchange of money and bitcoins between distinct individuals. Therefore those anomalous transactions were subtracted from the BTC-China volume for Jan/30.

[shmadz]

<snip>

Do you have access to Wells Fargo's 'Money Laundering Department'?

Exactly. The only ones with that kind of access are the CIA and the large drug cartels of mexico and the rest of central and south america.

It's been proven. They plead guilty. They received a 1.9 billion dollar slap on the wrist.

These small timers running something like silk road? Oh, they goin' ta jail, son.

[JorgeStolfi]

Yesterday (Mon Feb/03 UTC) China's volume was again lower than the previous two days, but higher than Frdays (the Chinese New Year).  AFAIK Monday was still holidays in China.

Huobi's started moving around 11:00 10:00 am local time and went on evenly until 02:00 01:00 am of the next day.

BTC-China still seems to be dead; the few transactions there may be arbitrage.

Exchanges outside China had slighly higer volume yesterday than on Sunday Feb/02, but still less than the previous week.  

(MtGOX stayed in fourth place with only 3.37 kBTC traded.)

As a resut, the non-Chinese exchanges got somewhat larger slice of the market (~1/3 instead of the usual ~1/4).

[pera]

Who is gonna dump first?

[ChartBuddy]

Explanation

[seleme]

8 days since my Gox withdrawal went missing.

[shmadz]

Who is gonna dump first?

It would be sweet if stamp would dump hard and either eat, or scare away that wall at 800...

He who dumps first, dumps best. (the rest all just get to sit around in the stink  )

[MatTheCat]

Who is gonna dump first?

Why would anyone dump BTC on Gox? To get a big load of Gox bucks which you will likely never see?

It would be sweet if stamp would dump hard and either eat, or scare away that wall at 800...

He who dumps first, dumps best. (the rest all just get to sit around in the stink  )

When I see utter bullshit liar walls like that, I also wish someone would just destroy it, even it if it results in mayhem breaking loose.

Like Joe Public is chomping at the bit for $800 BTC to the tune of about 1800 coins, but point blank refuse to take their opportunity as Bitcoin hovers around $805 -$802 for fkn ages.

I say that that thin sliver no more than 20 btc deep linking the bid and ask walls represents the genuine non-manipulation volume on Stamp at the moment. The majority of the rest of it is just bullshit. In no real market would two absolute cliff-faces of Bid and Ask walls hover around such shallow actual traded volume like that. Either cunts want to buy and sell Bitcoins, or they fkn dont.

[nanobrain]

Wow, looks like we're having a FUD party.

SWIM checked out SR2....still there, so don't know what that bit of 'news' is about.

BTCe...volume looks normal, LTC down but LTC up,LTC down.  I note:

http://www.reddit.com/r/BitcoinMarkets/comments/1wwwnv/btce_under_investigation_by_russia_for_money/

And specifically:  "admin: Jurisdiction BTC-e Cyprus*"

(*I think Cyprus should be renamed 'Bitcoin Island')

So, what's up folks....is this narrow trading range giving us cabin fever

[seleme]

8 days since my Gox withdrawal went missing.

Just sent them an angry message just to find they've replied me back earlier today for my first message that they have "escalated" it to their developing team and that it should come soon, lol

[windjc]

Looks like February is going to be another stale month in the bitcoin trading world. Hopefully fundamentals will continue to grow, but it looks like meanwhile the markets are just running in place and slightly downhill.

I am much looking forward to some guidelines from those NY regulators. The sooner the better.

Btw, you bears out there have to admit that the fight that 760-800 is giving you guys for the last month is pretty impressive. I don't know how much longer it can hold out, but DAMN, its been a thorn in your side, hasn't it? Yeah, you know it has

[biafore]

y'all been warned about gox repeatedly.  y'all saw the signals.  y'all been pointed at the signals over and over again.  very little sympathy will be obtained when you get wiped out.

The orders on the exchange are working perfectly, I just tried.

What do You suggest?

Confirmed withdraw transaction of 11.2BTC just now to my wallet from Gox. Gox is not a church but please don't spread FUD. Kthxbye.

Its all good everyone, Mt Gox works! I can prove it too. macsga withdrew 11.2BTC, so that means it works for everyone! He has proof Mt.Gox is ligitimate and works for all. Just follow his links its all the proof you need, he successfully withdrew BTC from GOX were saved. it all works.....

[billyjoeallen]

Looks like February is going to be another stale month in the bitcoin trading world. Hopefully fundamentals will continue to grow, but it looks like meanwhile the markets are just running in place and slightly downhill.

I am much looking forward to some guidelines from those NY regulators. The sooner the better.

Btw, you bears out there have to admit that the fight that 760-800 is giving you guys for the last month is pretty impressive. I don't know how much longer it can hold out, but DAMN, its been a thorn in your side, hasn't it? Yeah, you know it has

the question is, how long cant the bears hold out? 

[MatTheCat]

Its all good everyone, Mt Gox works! I can prove it too. macsga withdrew 11.2BTC, so that means it works for everyone! He has proof Mt.Gox is ligitimate and works for all. Just follow his links its all the proof you need, he successfully withdrew BTC from GOX were saved. it all works.....

Come back when they let you have some fiat back.